Miracle to meltdown: a pathology of the East Asian financial crisis

Article Abstract:

The East Asian financial crisis of the late 1990s is best characterized as the difference between the region's former prosperity and its extreme corporate debt. Declining output and depreciated exchange rates have been caused by neglecting private sector debt overhang and relying on macroeconomic policy solutions.

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The developmental implications of the Pacific Asian crises: the Thai experience

Article Abstract:

Thailand was drawn into the 1997-98 Asian financial crisis through high levels of price distortion. Thai growth from the 1960s created the reputation of the least interventionist nation in East Asia, but declining effectiveness of the developmental state made the Kingdom vulnerable to financial disruption.

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Ethnic politics and Third World development: some lessons from Sri Lanka's experience

Article Abstract:

Sri Lanka's economic development has been hampered by ethnic politics since the end of colonial rule in 1948. The common element of all its economic stages since independence has been dissociation between political strategy and economic policies.

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